OREANDA-NEWS. Ooma, Inc. (NYSE: OOMA), a leading smart business and home communications company, today released financial results for the fourth quarter and fiscal year ended January 31, 2016.

Fourth Quarter Fiscal 2016 Financial Highlights:

  • Revenue: Total revenue of $24.3 million, up 16% year-over-year. Subscription and services revenue increased 29% year-over-year to $20.6 million, and was 85% of total revenue. Product and other revenue decreased 25% year-over-year to $3.7 million, and was 15% of total revenue.
  • Net Loss: GAAP net loss was $3.2 million, or $0.19 per basic and diluted share, compared to GAAP net loss of $4.1 million, or $1.66 per basic and diluted share, in the fourth quarter of fiscal 2015. Non-GAAP net loss was $1.6 million, or $0.10 per basic and diluted share, compared to non-GAAP net loss of $3.0 million, or $1.21 per basic and diluted share, in the fourth quarter of fiscal 2015.

Fiscal Year 2016 Financial Highlights:

  • Revenue: Total revenue of $88.8 million, up 23% year-over-year. Subscription and services revenue increased 36% to $73.1 million, and was 82% of total revenue. Product and other revenue decreased 14% to $15.7 million, and was 18% of total revenue.
  • Net Loss: GAAP net loss was $14.1 million, or $1.38 per basic and diluted share, compared to GAAP net loss of $6.4 million, or $2.81 per basic and diluted share, in fiscal 2015. Non-GAAP net loss was $8.5 million, or $0.84 per basic and diluted share, compared to non-GAAP net loss of $4.7 million, or $2.07 per basic and diluted share, in fiscal 2015.

For more information about non-GAAP net loss, see the section below titled "Non-GAAP Financial Measures" and the reconciliation from GAAP net loss in this release.

"Fiscal 2016 was a solid year for Ooma. We are particularly pleased with the 36% annual growth in our subscription and services revenue," said Eric Stang, chief executive officer of Ooma. "We believe the continued growth in our subscriber base demonstrates the strength and quality of our unique hybrid SaaS platform and our strong competitive advantage serving small business, home and mobile customers. Looking to fiscal 2017, we intend to continue to invest in new innovation, grow our subscriber base, and improve our financial performance."

Recent Business Highlights:

  • Named a gold winner in the Small or Medium Business Product of the Year in Best in Biz Awards for Ooma Office.
  • Ranked among PCMag's Top Consumer Recommended Companies for 2015.
  • Launched picture texting and in-network group messaging on Talkatone App for both iOS and Android platforms.
  • Enabled calling using Amazon Echo and the Alexa Voice Service for Ooma Telo users and offered a free calling trial for all Amazon Echo users.
  • Announced integration of Ooma Telo with Apple Watch, Android Wear, Philips Hue, WeMo, LIFX and Dropbox.

Business Outlook:

For the first quarter fiscal 2017, Ooma expects to report:

  • Total revenue between $23.5 million to $24.3 million
  • Non-GAAP net loss in the range of $1.5 million to $1.8 million
  • Non-GAAP net loss per share in the range of $0.09 to $0.11 based on approximately 17 million basic and diluted weighted average common shares outstanding

For the full fiscal year 2017, Ooma expects to report:

  • Total revenue in the range of $102 million to $107 million
  • Non-GAAP net loss in the range of $4.0 million to $5.5 million
  • Non-GAAP net loss per share in the range of $0.23 to $0.31, based on 17.5 million basic and diluted weighted average common shares outstanding